CATL Unveils EV Battery With One-Charge Range of 1,000 Kms

CATL is the world’s biggest maker of electric-car batteries

Contemporary Amperex Technology Co. Ltd. unveiled an electric-car battery it said has a range of over 1,000 kilometers (620 miles) on a single charge and is 13% more powerful than one planned by Tesla Inc., a major customer.

CATL, as the world’s biggest maker of electric-car batteries is known, will start manufacturing the next-generation “Qilin” next year, according to a video the Chinese company streamed online Thursday. The battery charges faster than existing cells, and is safer and more durable, CATL said.

The Qilin battery, named after a mythical Chinese creature, has an energy density of up to 255 watt-hour per kilogram, Ningde, Fujian-based CATL said.

Volkswagen to Overtake Tesla’s Battery Electric Vehicle Sales Crown by 2024

Battery Electric Vehicle demand is set to more than double out to 2025

Tesla is likely to retain its global number one battery electric vehicle (BEV) sales spot for at least another 18 months as legacy automakers struggle to sell a meaningful share of BEVs in 2022 and 2023 according to a new major report on the global EV sector by research firm Bloomberg Intelligence (BI).

The report entitled ‘Battery Electric Vehicles Report – Automakers Race to the Top’ finds that the profit incentive to catch up with Tesla is lacking for most traditional marques in the short term amid rising battery costs and a lack of scale, except for Volkswagen. The German automaker is on track to overtake Tesla’s BEV volume in 2024 as global BEV demand is set to more than double out to 2025. BI’s analysis shows China’s BYD ranking third for BEV sales globally in 2025 followed by a glut of legacy automakers languishing around the one million annual BEV sales mark. It is not until later in the decade that US and Japanese automakers will be serious challengers for a top 3 spot.

In a bid to challenge Tesla’s $686 billion dollar market cap – which is almost double that of all US and EU legacy automakers combined – the report highlights that legacy automakers are unlikely to succeed in divesting BEV-related assets that are intertwined with their combustion operations and whose cash flows are paying for the transition. Volkswagen is the exception and is on track to launch an IPO of its Porsche brand in 4Q. Given the company’s potential 30% BEV sales mix in 2023 and about 45% in 2025, it is significantly ahead of peers and could attract a luxury based 85 billion euros valuation for the IPO and, possibly, an even higher tech-oriented valuation, according to the report.

Tesla, Volkswagen And Nio Scrambling For Graphite

Graphex Group Ltd (GRFXY) is going to list on the New York Stock Exchange (NYSE) 

The White House is now more desperate than ever to secure America’s supply chain of critical minerals. That includes rare earth elements and battery materials, such as lithium, cobalt, and graphite–all of which are key not only to electric vehicles and energy storage, but to computer components, household appliances, and clean energy technology in general.

China controls most of this market and the only truly effective supply chain security move is to bring it all home. While sparse announcements by junior miners exploring North American venues for new sources of these battery materials offer some hope, they are risky opportunities for investors. The first company looking to bring one of the most important battery materials back home is Graphex Group Ltd (GRFXY), which has just announced plans to list on the New York Stock Exchange (NYSE).

Elon Musk says he’s ‘pro-nuclear’ power

Elon Musk is surprised by some of the public sentiment’ against nuclear industry

Musk’s comments came in response to a question about rising energy demands that may come with a shift to electric vehicles. Despite his support for nuclear power, Musk said meeting this increased demand will depend on “large sustainable power generation developments, primarily wind and solar.”

While utilities will need to boost their production capacity, they can only do so much because power lines also have a limited capacity to distribute electricity to homes and businesses, he added.

“This is why I think it’s actually very important that a necessary part of the solution is local power generation,” Musk said, referencing Tesla Energy’s solar roof and battery products.